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This study aims to analyse the impact of e-paper on many existing industries including paper, publishing, book distribution, display, handheld device manufacturers and content service providers. Flexible display has been studied by many institutes, firms and market research companies. Some believe that e-paper is an exceptional application for flexible display, and the need for flexible display development for handheld devices and cloud-based e-book content is indisputable.

This study uses the Delphi technique and STEEP (Sociological, Technological, Economic, Environmental and Political aspects) with a panel to analyse a business model and the opportunity for the development of e-paper in Taiwan up to the year 2020.

The study concludes that e-paper content and customised digital services are an essential part of e-paper development, while hardware and cloud data are no more than a mechanism to show, compute and store data. Thus, whether the screen of a handheld device is flexible may not be of importance. Although e-paper will affect the display industry, it will not substitute for handheld devices and traditional bookstores.

This research can be used as a reference for government, academics, industry and international investors.

Since business competition has become more intense throughout the world, most enterprises are seeking to engage in business cooperation with other partners in order to enhance their competitive strengths. However, they do not necessarily develop mature information technologies’ (ITs) capabilities and skills internally but rather outsource them to IT providers. Therefore, the benefits received by firms which adopt the approach of business cooperation with IT providers have become an interesting issue for managers and shareholders.

This study adopted an event study methodology for apprising the short-term business value from the stock market. The authors predicted that investors will react as they receive news coverage about the strategy of business cooperation between outsourcing firms and an IT provider, International Business Machines (IBM) Corporation. The authors then collected all news coverage regarding the firms which had announced business cooperation with IBM and observed different types of abnormal returns.

On analyzing 53 announcements of cooperation with IBM from 2008 to 2016, the authors found that the announcement of business cooperation had a significantly positive influence on companies' market value.

To the best of the authors’ knowledge, this is the first study to investigate the issue for market reaction to the announcement of business cooperation with IBM.